Dresden man loses €230,000 in elaborate investment fraud scheme

Trust turned to ruin when a retiree handed over his savings. Now, investigators untangle a web of deception spanning 19 shell companies.

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2025 November 19 . 1:21 PM

1 min read

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65-Year-Old from Saxony Loses 230,000 Euros Due to Investment Fraud - Dresden man loses €230,000 in elaborate investment fraud scheme

A 65-year-old man from Dresden has lost €230,000 in an investment scam. Police in Saxony uncovered the case on Tuesday after the victim reported transferring nearly €100,000 to fraudsters. The scheme lured him with promises of unusually high returns that never materialised.

The scam involved a group of three suspects tied to a corporate network. They allegedly operated a 'money carousel' by misleading investors about where their funds were going. The trio—consisting of a 49-year-old managing director, a 61-year-old sales manager, and a 51-year-old finance administrator—ran 19 companies linked to the Dresden-based technology firm Biofabrik.

The 65-year-old’s losses total €230,000, with €100,000 directly transferred to the scammers. Police continue to investigate the trio’s activities and the broader network behind the fraud. Further charges may follow as more details emerge about the scheme’s operations.